When you are looking to start buying UK property from overseas, especially from halfway across the globe, it helps to have a competitive edge against others looking for the same UK property. Chinese property investors in the UK should understand some strategic tips to start buying UK property from overseas, especially if they are thinking about a long-term, generational UK property investment.
Why Should Chinese Investors Invest Overseas?
It may seem strange to invest in real estate half a globe away, but for Chinese property investors in the UK, that is precisely why it is so appealing. Owning a property overseas is not only prestigious but also practical for families that send their children abroad to study or travel to the UK for business purposes. It solves complications that could arise from university-provided student housing. It gives you a personal residence to conduct business meetings where you control the atmosphere and tone of the forum.
Alongside that, the United Kingdom is known for its strong respect for property laws, and cities such as London make excellent "hubs" for travel and connections to the rest of the world. Best of all, you do not need to be a citizen of the United Kingdom to purchase and own property, making it more accessible to those looking to make a UK property investment.
But what if you never intend to visit the UK? Making a UK property investment can lead to longer, sustainable economic growth because it can become a rental property that passively generates income from the tenants. In cities such as London or Manchester, rental properties are in high demand as more and more individuals inside the UK and outside look for places to occupy. These rentals retain their value over long periods, making them ideal for generational investments and passive income.
4 Tips to Help You Invest
When deciding on a UK property investment, Chinese property investors in the UK should consider these four tips to ensure they achieve the best possible investment.
Choose a Desirable Location
Whenever you purchase property, you should consider the location. London, Birmingham, Liverpool, and Manchester are the best places to invest in the UK. All four areas are known to retain their value historically over long periods and changes in leadership and policy. All four cities are also known for their academic excellence and are recognised worldwide as places most students dream of studying abroad, with connections across the United Kingdom. Suppose you use an apartment or home in the UK to attend school. In that case, that property can remain generational and allow multiple family members across several generations to attend and enrol in the same institution.
London boasts an impressive travel network, with many international and domestic flights leaving and arriving. If you travel often, the best place to invest in the UK is London apartments, which can serve as homes away from home when you have to wait a few days in the UK to get another flight–whether by choice or cancellation. If the property is for business purposes, all four cities, especially London, are centres of commerce.
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And what if you are renting? Many Chinese property investors in the UK know that London, Manchester, and Liverpool are always rife with tenants. If the investment property is a rental, it shouldn't take long for the property to find a tenant–giving you passive income and a diversified real estate portfolio for future endeavours.
Decide Property Type
Chinese investors in the UK will have to decide what kind of property they want. For most, a simple apartment will do. However, many Chinese investors in the UK are looking for houses or manors in historic parts of the cities they choose, nabbing themselves a prime piece of history and prestige.
There will be some difficulty, however. Although the United Kingdom lets non-citizens buy property, many financing corporations will not lend or finance with foreign investors. That said, given the stability and relative value retention, property in the United Kingdom will pay for itself in the long run.
Apartments are usually cheaper than homes or manors but less prestigious. When you decide on the best place to invest in the UK, you must consider your long-term goals.
Plan Long-Term Goals
Why are you buying this property? This is one of the most critical questions a Chinese investor in the UK should ask. What will this property's purpose be? Rental? Personal? Business? Once you have decided on the purpose of the property, you can start planning for the long-term goals.
If the property is personal, it could be a vacation property or a place to begin a tour of Europe. London, in particular, is well connected to continental Europe and abroad, providing endless family vacations and adventures for you to make generational. A visit to Germany every Oktoberfest or Italy every summer? With personal property in the UK, you will save time and money by having a "home base" to plan your trips without needing to pay for several flights and hotels.
You should learn about United Kingdom rental laws if the property is a rental. While the country is known for its democracy and stability when protecting property rights, not knowing the laws about letting properties could leave you at a disadvantage to unscrupulous tenants. How will you transfer rental payments, convert the currency, and maintain the property? These are things to consider, which brings us to our last tip:
Hire an Expert
No matter what path you choose as a Chinese investor in the UK, you can trust our experts at Gladfish to help you with the finer details. We know you're not a landlord–you're a property owner, someone who is looking to expand a portfolio across countries and generations.
Since the 90s, we have been helping investors find the perfect property to help grow their portfolio, provide passive income through let properties, and navigate the real estate market for Chinese investors in the UK.
So whether you are a new property investor or a skilled hand, let us help you snag the best place to invest in: the UK!